Reuters - Qatars decision to quit OPEC shows the frustration of small producers at the dominant role of a Saudi and Russia-led panel, a top Iranian official said, adding that any supply cuts should come only from countries that had increased output. The comments underline tensions within the Organization of the Petroleum Exporting Countries ahead ...

SHANA -- Iranian Minister of Petroleum Bijan Zangeneh sent a letter to OPEC Secretary General HE Mohammad Sanusi Barkindo complaining about JMMC performance and interpretation of its decisions by some OPEC members and called for its cancellation. In the letter the Iranian official complained that the committee had distanced from its original mandate ...

SHANA -- Irans Minister of Petroleum Bijan Zangeneh said the Joint OPEC/Non-OPEC Ministerial Monitoring Committee (JMMC) is not legally competent to make decisions about adjustment of production quotas. In an interview with Platts and Bloomberg in Tehran, he said that all decisions will be adopted only in the OPEC oil and energy ...